JOYY Inc. Sponsored ADR $JOYY Shares Newly Bought by CenterBook Partners LP

CenterBook Partners LP purchased a new stake in shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 28,564 shares of the company’s stock, valued at approximately $2,292,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. acquired a new stake in JOYY during the third quarter worth about $15,906,000. AIA Group Ltd acquired a new position in JOYY in the third quarter valued at approximately $2,257,000. Asset Management One Co. Ltd. acquired a new position in JOYY in the third quarter valued at approximately $2,383,000. Moody Aldrich Partners LLC purchased a new stake in JOYY in the 3rd quarter worth approximately $933,000. Finally, Signaturefd LLC purchased a new position in shares of JOYY during the 3rd quarter valued at approximately $266,000. 36.83% of the stock is owned by institutional investors and hedge funds.

JOYY Stock Performance

Shares of NASDAQ JOYY opened at $80.91 on Monday. The firm has a fifty day moving average of $79.53 and a 200 day moving average of $68.64. The firm has a market cap of $3.96 billion, a PE ratio of 19.31 and a beta of 0.44. JOYY Inc. Sponsored ADR has a one year low of $54.24 and a one year high of $85.15.

JOYY Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 7.7%. This is a positive change from JOYY’s previous quarterly dividend of $1.50. The ex-dividend date was Wednesday, September 30th. JOYY’s dividend payout ratio (DPR) is 147.49%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on JOYY. Benchmark reissued a “buy” rating on shares of JOYY in a report on Wednesday, August 26th. Weiss Ratings raised shares of JOYY from a “hold (c-)” rating to a “buy (b)” rating in a report on Friday, August 28th. JPMorgan Chase & Co. raised shares of JOYY from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $35.00 to $98.00 in a report on Wednesday, August 12th. Citigroup restated a “buy” rating on shares of JOYY in a research note on Wednesday, July 22nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $87.00 price target on shares of JOYY in a report on Wednesday, August 26th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $83.40.

JOYY Profile

JOYY Inc is a Singapore-headquartered internet company focused on live streaming, short-form video and online communication. Its consumer platforms include Bigo Live, where users broadcast and watch live content; Likee, a short-video creation and sharing app; and imo, a messaging and voice and video calling service.

The company’s roots are in China, where it began as an online social entertainment business. It adopted the JOYY name in 2019 as it expanded its focus beyond its original market.